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| China Deal | |
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| Tweet Topic Started: Jun 30 2015, 08:28 AM (48 Views) | |
| Litos | Jun 30 2015, 08:28 AM Post #1 |
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Itō Hirobumi
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Part of the Suzhou Conference has concluded this deal with China;
We invite comments and objections before submission and vote. All have access to the Suzhou conference to see proceedings |
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| Sadar | Jun 30 2015, 08:46 AM Post #2 |
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Obviously we support it. Its also a massive blow to Russia. Edited by Sadar, Jun 30 2015, 08:47 AM.
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| Jos1311 | Jun 30 2015, 01:33 PM Post #3 |
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Head Admin
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There is concern among various members that this might be an unwise step to make, unless Beijing does more to let the markets decide the value of the RMB. Most members call for further reform of the RMB exchange rate regime and to increase the RMB exchange rate flexibility. |
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| Sadar | Jun 30 2015, 09:57 PM Post #4 |
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France would like to push other members to support the deal. By allowing further reserves China is accepting more market integration and less controls over the RMB. It is a big step forward and Europe is the leading actor in this move from China. In addition Euronext takes a central position in Chinnas financial integration that is going to create an unforseen EU-Chjna fjnancial axis in the future. The financial markets -investment banking & asset management- have been dominated by the US. This is a turning point for the industry. Needless to say that the RMB becoming the leading emerging market currency for the EU, the Ruble is going to be automatically dumped and is going to crash, thus making a double win. |
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| Jos1311 | Jul 1 2015, 02:59 AM Post #5 |
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The French response seems to all but completely neglect the fact that it would provide Beijing with a significant economic warfare opportunity, due to the fact that the RMB is still nowhere near a free market currency. Various members again stress that any such agreement should be preceded by more currency reforms by Beijing, which in turn would provide a much more significant advantage to the EU, as it would mean that finally the RMB will adjust to its actual value, and become much more expensive than currently is the case. Resulting in a substantial cost rise for production in China, making competition with China a much more realistic option for European companies. |
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| Litos | Jul 2 2015, 01:09 AM Post #6 |
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Itō Hirobumi
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We will convey these concerns in the conference and hope there can be a redraft. |
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| iceviking | Jul 2 2015, 12:12 PM Post #7 |
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Italy suggests we push for a redraft and submit it before the members. |
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12:44 AM Jul 11
